Oilfield Services Market by Type (Pressure Pumping, Oil Country Tubular Goods, Well Intervention and Coiled Tubing, Drilling and Completion Fluid, Well Completion, Seismic Testing), Location (Onshore and Offshore), and Geography - Global Forecast to 2025

  • Report ID:MROTH - 104244
  • Pages: 124
  • Mar 2019
  • Formats*: PDF
  • Category: Others

1. Introduction
    1.1. Market Ecosystem
    1.2. Currency and Limitations
           1.2.1. Currency
           1.2.2. Limitations
    1.3. Key Stakeholders

2. Research Methodology
    2.1. Research Process
           2.1.1. Secondary Research
           2.1.2. Primary Research
           2.1.3. Market Size Estimation

3. Executive Summary
    3.1. Introduction

4. Industry Insights
    4.1. Introduction
    4.2. Market Drivers
           4.2.1. Increasing Demand for Oil Across the Globe
           4.2.2. Technological Advancements
           4.2.3. Increasing Use of Internal Sources of Funding
    4.3. Market Restraints
           4.3.1. Strict Government Regulations on E&P Activities
           4.3.2. Fluctuations in Crude Oil Prices
           4.3.3. Shortages of Skilled Labor
    4.4. Market Opportunities
           4.4.1. Discovery of New Oil Resources
           4.4.2. Mergers and Acquisitions
    4.5. Market Trends
           4.5.1. Digitization to Achieve Cost Optimization
           4.5.2. Integrated Value Chain or Bundled Offerings to Lower Customer Costs
           4.5.3. Focus on Manufacturing and Long-Term Contracts
           4.5.4. Expanding New Market Offerings

5. Oilfield Services Market, by Service Type
    5.1. Introduction
    5.2. Pressure Pumping
    5.3. Oil Country Tubular Goods Services
    5.4. Well Intervention and Coiled Tubing
    5.5. Drilling and Completion Fluid
    5.6. Well Completion
    5.7. Wireline Services
    5.8. Seismic Testing
    5.9. Other Services

6. Oilfield Services Market, by Location
    6.1. Introduction
    6.2. On-Shore
    6.3. Offshore

7. Oilfield Services Market, by Geography
    7.1. Introduction
    7.2. North America
    7.3. Europe
    7.4. Asia Pacific (APAC)
    7.5. Middle East Africa
    7.6. Latin America

8. Competitive Landscape
    8.1. Introduction
           8.1.1. Acquisitions
           8.1.2. Partnerships, Collaborations, and Agreements
           8.1.3. New Service Launches
           8.1.4. Expansions

9. Company Profiles (Business Overview, Financial Overview, Product & Service Portfolio, Strategic Developments)
    9.1. Schlumberger Limited
    9.2. Baker Hughes GE
    9.3. Halliburton Company
    9.4. Weatherford International, Plc
    9.5. China Oilfield Services Limited (COSL)
    9.6. Basic Energy Services
    9.7. Superior Energy Services, Inc.
    9.8. FMC Technologies, Inc.
    9.9. Welltec
    9.10. Weir Oil & Gas
    9.11. National Oilwell Varco
    9.12. Oil States International, Inc.
    9.13. Archer Limited

10. Appendix
      10.1. Questionnaire
      10.2. Available Customization

List of Tables
Table 1 Recent Mergers and Acquisitions in Oil Field Services Market
Table 2 Global Oilfield Services Market, by Service Type, 2017-2025 (USD Million)
Table 3 Global Pressure Pumping Market, by Region, 2017-2025 (USD Million)
Table 4 Global OCTG Market, by Region, 2017-2025 (USD Million)
Table 5 Global Well Intervention and Coiled Tubing Market, by Region, 2017-2025 (USD Million)
Table 6 Global Drilling and Completion Fluid Market, by Region, 2017-2025 (USD Million)
Table 7 Global Well Completion Market, by Region, 2017-2025 (USD Million)
Table 8 Global Wireline Services Market, by Region, 2017-2025 (USD Million)
Table 9 Global Seismic Testing Market, by Region, 2017-2025 (USD Million)
Table 10 Global Other Services Market, by Region, 2017-2025 (USD Million)
Table 11 Global Oilfield Services Market, by Location, 2017-2025 (USD Million)
Table 12 Global Onshore Services Market, by Region, 2017-2025 (USD Million)
Table 13 Global Offshore Services Market, by Region, 2017-2025 (USD Million)
Table 14 Oilfield Services Market, by Region, 2017-2025 (USD Million)
Table 15 North America Oilfield Services Market, by Service Type, 2017-2025 (USD Million)
Table 16 North America Oilfield Services Market, by Location, 2017-2025 (USD Million)
Table 17 Europe: Oilfield Services Market, by Service Type, 2017-2025 (USD Million)
Table 18 Europe: Oilfield Services Market, by Location, 2017-2025 (USD Million)
Table 19 APAC: Oilfield Services Market, by Service Type, 2017-2025 (USD Million)
Table 20 APAC: Oilfield Services Market, by Location, 2017-2025 (USD Million)
Table 21 MEA: Oilfield Services Market, by Service Type, 2017-2025 (USD Million)
Table 22 MEA: Oilfield Services Market, by Location, 2017-2025 (USD Million)
Table 23 LATAM: Oilfield Services Market, by Service Type, 2017-2025 (USD Million)
Table 24 LATAM: Oilfield Services Market, by Location, 2017-2025 (USD Million)
Table 25 Acquisitions (2016–2018)
Table 26 Partnerships, Collaborations, and Agreements (2016–2018)
Table 27 New Service Launches (2016–2018)
Table 28 Expansions (2016–2018)

List of Figures
Figure 1 Scope of the Global Oilfield Services Market
Figure 2 Key Stakeholders in the Global Oilfield Services Market
Figure 3 Research Process
Figure 4 Key Executives Interviewed
Figure 5 Primary Research Techniques
Figure 6 Markey Size Estimation
Figure 7 Global Oilfield Services Market, 2019 Vs 2025
Figure 8 Pressure Pumping Services Segment Is Expected to Dominate the Oilfield Services Market Till 2025
Figure 9 Onshore Segment Is Expected to Dominate the Oilfield Services Market Till 2025
Figure 10 North America Dominated the Global Oilfield Services Market in 2018
Figure 11 Oilfield Services Market: Industry Insights
Figure 12 Increasing Demand for Oil (2015–2019)
Figure 13 Oil Production by Country, 2017–2019* (Million Bpd)
Figure 14 Fluctuating Crude Oil Prices (2010–2018)
Figure 15 Top Oil Field Discoveries in H1-2018
Figure 16 Main Themes of Digitization in Oilfield Services
Figure 17 Global Oilfield Services Market, by Location, 2019-2025 (USD Million)
Figure 18 Number of Oil Rigs in the Us
Figure 19 Global Offshore Crude Oil Production (2013–2015)
Figure 20 Global Crude Oil Production (2015–2017) and Regional Share (2017)
Figure 21 Oilfield Services Market, by Region, 2017-2025 (USD Million)
Figure 22 Us and Canada Crude Oil Production (2011–2015)
Figure 23 Europe Crude Oil Production (2011–2015)
Figure 24 Growing Oil Production in the Norway, the UK, and Turkey (2014–2016)
Figure 25 Crude Oil Production in APAC (2011–2015)
Figure 26 Top Oil Producing Countries in APAC, 2016
Figure 27 Middle East Africa Crude Oil Production, 2014–2016 (Mbpd)
Figure 28 Middle East Africa Rig Count (2016–2018)
Figure 29 LATAM Crude Oil Production, 2011–2015 (Mbpd)
Figure 30 Competitive Landscape
Figure 31 Schlumberger Limited: Financial Overview (2015-2017)
Figure 32 Baker Hughes GE: Financial Overview (2015-2017)
Figure 33 Halliburton Company: Financial Overview (2015-2017)
Figure 34 Weatherford International, Plc: Financial Overview (2015-2017)
Figure 35 China Oilfield Services Limited (COSL): Financial Overview (2015-2017)
Figure 36 Basic Energy Services: Financial Overview (2015-2017)
Figure 37 Superior Energy Services, Inc.: Financial Overview (2015-2017)
Figure 38 FMC Technologies, Inc.: Financial Overview (2015-2017)
Figure 39 Welltec: Financial Overview (2014-2016)
Figure 40 Weir Oil and Gas: Financial Overview (2015-2017)
Figure 41 National Oilwell Varco: Financial Overview (2015-2017)
Figure 42 Oil States International, Inc.: Financial Overview (2015-2017)
Figure 43 Archer Limited: Financial Overview (2015-2017)

The global oilfield services market is projected to reach $171.7 billion in 2025 from $138.9 billion in 2019, growing at a CAGR of 3.6%. Oilfield services sector is considered to be an essential partner for the oil exploration and production companies. They provide oil well maintenance, completion, production, supply, and logistical support services in both onshore and offshore. In general, oilfield services companies manufacture, repair, and maintain equipment used in the extraction and transport of oil. Factors such as increasing demand for oil, increasing use of internal sources of funding, and technological advancements are considered to drive the growth of this market. Moreover, discovery of new oilfields, mergers and acquisitions, and recent licenses and product launches are expected to provide significant opportunities in this market. However, strict government regulations on E&P activities, fluctuations in crude oil prices, and shortage of skilled labor are expected to hinder the growth of this market to some extent.

Increasing demand and technological advancements fuels the growth of the global oilfield services market

Increasing demand for oil consumption has been observed for the past three years and is expected to continue in the coming five years’ time period. The oilfield services sector faced a sharp downturn during 2014–2015 due to the unexpected price drop in crude oil which led to the decline in the oil upstreaming activity. Besides, several oilfield services contracts had been cancelled due to unfavorable profits. It was identified that during 2014–2016, around 36% of companies in the oilfield services sector ceased operations.

Over the past decade, technology has become increasingly more prominent in the E&P of oil and natural gas. Industry players expect technological advancements that could help them to enhance the productivity and efficiency. Oilfield service providers have worked to develop greater technological advancements that have made E&P activities more efficient and cost-effective. Robotics oil rigs and Remotely Operated Vehicles (ROVs) have facilitated the development of offshore oil fields since the 1980s. The end result, of these advances in technology is a more streamlined, quick and efficient process, aiding a rise in production levels.

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Increasing use of internal sources of funding supports the market growth

Oilfield service providers are set to invest their internal source of funding due to the increasing crude oil prices. The major advantages of investing internal funds are reduction in the interest to the external funding sources and attain more profits. The internal funds are used to improve machinery, purchase real property, or develop a new product. Oilfield services use internal funding because it is a simple, direct way to obtain the capital for growth.

Discovery of new oil resources provides future opportunities for the market growth

Global discoveries of conventional oil and natural gas are seeing an exciting recovery with discovered resources already surpassing 4.5 billion barrel of equivalent (BOE) in the first half of 2018. Guyana led the top five countries in terms of total discovered resources added followed by the United States, Cyprus, Oman, and Norway. These five countries held three-fourths of the total resources discovered in 2018. The discoveries in Guyana, the United States, and Cyprus are located in ultra-deepwater and are 100% owned by oil majors, indicating that oil majors have started to re-focus on deepwater exploration.

The discovery trend is expected to continue backed by ongoing exploration in emerging offshore provinces and many promising high-impact wells targeting potential resources in the millions. The new discoveries of oil fields provide lucrative opportunities for the services sector in the oil & gas industry, thereby propelling the market growth in the forecast period.

Key findings in the global oilfield services market study:

Well completion services will witness the fastest growth in the oilfield services market during the forecast period (2019–2025)

Oil well completion services are defined as the post-drilling operations that are necessary for oil and gas production. Completion planning involves choosing and organizing the equipment to be used, selecting materials, establishing production line tubing dimensions, stipulating production intervals, and finally defining the mode of formation fluid production. The goal of well completion services is to stimulate the well to maximize production and running tubing to enhance the well’s lifespan and ease of maintenance. Factors such as increasing demand for high oil production from the production site and shale gas inflation are driving the growth of the well completion services segment.

Baker Hughes, Oil States Energy Services, Schneider Electric, Hunting Energy Services, and Halliburton are the leading players in providing oil well completion services in the oilfield services market.

Onshore oilfield services dominates the global oilfield services market by location

Onshore oilfield services refer to the well maintenance, intervention, completion, production, supply, and logistical support services to the onshore oil well production sites. Factors such as increasing new oil well discoveries and global increasing production of earth oil are primarily driving the growth of this market segment. Conventional land oil drilling is easier than water drilling and easy to maintain the oil well. The onshore oil production has increased to 71% of the total crude oil production in 2015 from 69% in 2010. This increasing demand would fetch enormous opportunities to the onshore oilfield services. The main advantage of the onshore services is that most of the oilfields are located onshore.

Asia Pacific: Fastest Growing Regional Market

Asia Pacific comprising of China, India, Korea, Japan, and Rest of Asia (RoAPAC) will witness the fastest growth during the forecast period (2019–2025). Factors such as steady oil production, increasing number of oil rig counts, and growing offshore activities in China are expected to drive the growth of oilfield services market in this region. These increasing oil production and rig counts trends are expected to bring optimistic opportunities to the oilfield service companies in APAC.

China accounted for the largest production of crude oil. Chinese oil & gas state-owned company, China National Offshore Oil Corporation (CNOOC), is planning to drill 132 exploratory wells. Similarly, Oil and Natural Gas Corporation Limited (ONGC), an Indian state oil & gas company has made a discovery of natural gas in the Gulf of Kutch, and is expected to start production within 2-3 years. Similarly, the number of oil rigs has been increasing. According to Baker Hughes, the total number of rig counts is increased from 187 in 2016 to 219 in 2017, growing at a growth rate of around 8%.

Key Players

The report includes competitive landscape based on extensive assessment of the key strategic developments adopted by leading market participants in the industry over the past 3 years (2016–2018). The key players operating in the global oilfield services market are Schlumberger Limited, Baker Hughes GE, Halliburton Company, Weatherford International, Plc, China Oilfield Services Limited (COSL), Basic Energy Services, Superior Energy Services, Inc., FMC Technologies, Inc., Welltec, Weir Oil & Gas, National Oilwell Varco, Oil States International, Inc., and Archer Limited among others.

Scope of the Report:

Market by Service Type

  • Pressure Pumping
  • Oil Country Tubular Goods (OCTG) Services
  • Well Intervention and Coiled Tubing
  • Drilling and Completion Fluid
  • Well Completion
  • Wireline Services
  • Seismic Testing
  • Other Services

Market by Location

  • Onshore
  • Offshore

Market by Geography

  • North America
  • Europe
  • Asia Pacific (APAC)
  • Middle East and Africa
  • Latin America
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